Billy takes out a $2,400 discounted loan using a simple interest rate of 8% for a period of 18 months. What is the effective interest rate? Give your answer as a percentage to the nearest tenth of a percent. Do not include the percent symbol in your answer.

answer: 2/4

step-by-step explanation:

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step-by-step explanation:

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proportions are fractions that equal to each other. so if two fractions are the same, they are proportional.

let's check the answers to see if they are proportional.

question a is not proportional because you can't turn 1.5/3 to 3/9. if you try to multiply 1.5/3 by 2 or 3, you wont get 3/9. it's impossible to make the fractions the same.

question b is not proportional because you can't turn 22/33 to 4/6. 33 can't go into 6.

question c is proportional because when you multiply 2 and 3 by 71, you would get 142/213, and those fractions equal to each other

question d is proportional because when you divide 14 and 7 by 2, you would end up with 7/3.5, and those fractions equal to each other.